Gulf International Bank UK Ltd Lowers Stock Holdings in Sysco Co. (NYSE:SYY)

Gulf International Bank UK Ltd lowered its holdings in shares of Sysco Co. (NYSE:SYY – Get Rating) by 15.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 82,084 shares of the company’s stock after selling 15,469 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Sysco were worth $6,447,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Geode Capital Management LLC boosted its position in Sysco by 2.5% during the third quarter. Geode Capital Management LLC now owns 7,612,461 shares of the company’s stock worth $595,673,000 after purchasing an additional 182,664 shares in the last quarter. American Century Companies Inc. boosted its position in Sysco by 22.6% during the third quarter. American Century Companies Inc. now owns 6,060,039 shares of the company’s stock worth $475,713,000 after purchasing an additional 1,116,289 shares in the last quarter. Victory Capital Management Inc. boosted its position in Sysco by 8.8% during the third quarter. Victory Capital Management Inc. now owns 5,364,220 shares of the company’s stock worth $421,091,000 after purchasing an additional 434,376 shares in the last quarter. Coho Partners Ltd. boosted its position in Sysco by 38.0% during the third quarter. Coho Partners Ltd. now owns 3,044,184 shares of the company’s stock worth $238,968,000 after purchasing an additional 837,553 shares in the last quarter. Finally, Macquarie Group Ltd. lifted its position in shares of Sysco by 5.1% in the third quarter. Macquarie Group Ltd. now owns 2,832,111 shares of the company’s stock valued at $222,321,000 after acquiring an additional 136,243 shares in the last quarter. Institutional investors own 80.94% of the company’s stock.

In related news, CAO Anita A. Zielinski sold 3,611 shares of the firm’s stock in a transaction that occurred on Wednesday, February 9th. The shares were sold at an average price of $84.00, for a total transaction of $303,324.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sheila Talton sold 2,265 shares of the firm’s stock in a transaction that occurred on Thursday, February 10th. The shares were sold at an average price of $82.14, for a total transaction of $186,047.10. The disclosure for this sale can be found here. Insiders have sold 111,382 shares of company stock worth $9,513,621 in the last ninety days. Corporate insiders own 0.31% of the company’s stock.

NYSE:SYY traded down $0.68 during midday trading on Wednesday, reaching $80.43. The company had a trading volume of 60,170 shares, compared to its average volume of 2,754,537. The firm has a market capitalization of $41.23 billion, a price-to-earnings ratio of 53.36, a PEG ratio of 2.43 and a beta of 1.29. Sysco Co. has a 12-month low of $68.05 and a 12-month high of $89.22. The stock’s fifty day simple moving average is $80.96 and its 200-day simple moving average is $78.62. The company has a current ratio of 1.33, a quick ratio of 0.78 and a debt-to-equity ratio of 8.68.

Sysco (NYSE:SYY – Get Rating) last released its earnings results on Tuesday, February 8th. The company reported $0.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.69 by ($0.12). The business had revenue of $16.32 billion for the quarter, compared to analyst estimates of $15.88 billion. Sysco had a return on equity of 82.36% and a net margin of 1.29%. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.17 EPS. As a group, sell-side analysts expect that Sysco Co. will post 3.04 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, April 22nd. Stockholders of record on Friday, April 1st will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, March 31st. This represents a $1.88 annualized dividend and a dividend yield of 2.34%. Sysco’s payout ratio is 123.69%.

SYY has been the topic of several research reports. Truist Financial started coverage on Sysco in a research report on Tuesday, February 1st. They issued a “buy” rating and a $89.00 target price on the stock. CL King started coverage on Sysco in a report on Friday, March 11th. They issued a “neutral” rating for the company. Argus raised Sysco from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Tuesday, February 22nd. Barclays raised Sysco from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $80.00 to $86.00 in a report on Wednesday, December 15th. Finally, JPMorgan Chase & Co. cut their price target on Sysco from $90.00 to $88.00 and set a “neutral” rating for the company in a report on Friday, December 17th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $88.75.

Sysco Company Profile (Get Rating)

Sysco Corp. engages in selling, marketing, and distribution of food products to restaurants, healthcare and educational facilities, and lodging establishments. It operates through the following segments: U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other. The U.S. Foodservice Operations consists of U.S.

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